Per Pavel Stehlik's comment in BZ#842767 comment#30
Opening a new [TEXT] bug
In case new ISO is available user can see this message: "Upgrade or reinstall RHEV Hypervisor." I like much more the older variation: " Anew RHEV-Hypervisor version is available, an upgrade option will appear once the host is moved to maintenance mode." - the older is correct as it contains clear explanation what to do, please return it back.

Regression of BZ784042 means the message is displayed even when the hypervisor IS running the the latest version available.
This was fixed in 3.1.0-32 but reappeared in 3.1.0-43 and is still there in 3.1.0-50.
As per support case 00779989
See also https://access.redhat.com/knowledge/solutions/105963